Business Continuation Planning
Do you know what will happen to your business in the event of your death? Successful business owners have invested vast amounts of time and energy into seeing to it that their business prospers. A business is more than just a job. It is a very important part of you and your family’s life. If you want to ensure that your business carries on and is there for your family, you need to address the subject of business continuation planning.
A smart business continuation plan will determine how much your business is worth. As part of the planning, you will have to determine the potential successors to your business. If you wish to keep the ownership of the business in your family, you will need to determine who would be best to take over from you. In the event that your family will not be succeeding you, you need to have a strategy that addresses that matter. Your short-, mid- and long-range goals should be known and you will need an action plan laying out how those goals are to be implemented. An experienced Texas estate planning lawyer can be consulted to ensure you have an effective business continuation plan.
How Clausell Law Firm, PLLC can help
Clausell Law Firm, PLLC has seen the pitfalls of having no business continuation plan done at all. We have also observed planning developed by someone ignorant of the laws involved in such matters. Family disputes can occur and financial, legal and tax issues can arise. Your business could be under-valued or fail altogether.
You need peace of mind when thinking of the future of yourself and your family. Business continuation planning, done correctly, will help you in gaining that peace of mind. Estate and tax laws are constantly changing, which is why you need an attorney that is experienced in this field.